In Short:
Realty major DLF Ltd plans to launch luxury residential projects in Gurugram and enter new markets such as Mumbai and Goa. The company aims to launch 12.8 million sq. ft of projects with sales potential of ₹42,000 crore in 2024-25. DLF has already launched 3 million sq. ft project named ‘DLF Privana West’ which sold out in three days for around ₹5590 crore. Sales bookings for April-June quarter jumped to ₹6,404 crore.
DLF Ltd to Launch Luxury and Premium Residential Projects in Gurugram and Expand to Mumbai and Goa
Exciting news from **DLF Ltd**! The renowned real estate major is all set to roll out a mix of luxurious and premium residential projects in its key market – Gurugram. But that’s not all, folks! DLF is also gearing up to venture into new property markets such as Mumbai and Goa this fiscal year. And if that wasn’t enough, they will also be launching a commercial project in Gurugram. How cool is that?
Increased Project Launch Guidance
The company has upped its project launch guidance to a whopping 12.8 million sq. ft in 2024-25 with sales potential of ₹42,000 crore. This move comes as DLF continues to witness a surging demand momentum in the real estate sector.
Focus on Premium and Luxury Projects
DLF had initially planned to launch 11.6 million sq. ft of projects this year. The company’s primary focus has been on introducing premium and luxury projects, which not only enhance cash flows but also boost profitability.
Exciting Launches and Sales Achievements
Already a part of the 12.8 million launch pipeline, DLF has successfully rolled out 3 million sq. ft, including the project launch of ‘DLF Privana West’ in April. The project inventory was sold out in just three days, raking in around ₹5590 crore. Impressive, right? DLF is set to launch nearly 37 million square feet for sale across various cities in the medium term, with sales potential totaling ₹1.04 trillion.
Future Plans
**Ashok Tyagi**, the Managing Director and Chief Financial Officer of DLF, revealed in an analyst call that the luxury residential project in Goa will be unveiled in the upcoming September quarter. Additionally, the much-anticipated project in Mumbai will be launched once all the necessary approvals are in place.
Rising Sales Bookings
During the April-June quarter of FY25, DLF witnessed a significant jump in sales bookings, reaching ₹6,404 crore compared to ₹2,040 crore in the same period last year. The surge is attributed to the strong demand for their luxury housing properties.
Impressive Financial Performance
Earlier this week, DLF announced a 23% rise in its net profit to ₹645.61 crore in the first quarter of FY25. The total income also saw a boost, climbing to ₹1,729.82 crore in the April-June period of this fiscal year, up from ₹1,522 crore in the previous year’s corresponding period.
